TARGET 2 balance sheets

[a german]

Hello brotherjonf,

thanks for your work! And cheers from germany.

I came across a site showing the TARGET 2 liabilities between the european "donor" countries and the "recievers".

please have a look: http://www.querschuesse.de/target2-salden/

The TARGET 2 system is basically an inner-european inter-bank balance-sheet, which is managed by the ECB and shows liabilities between the sovereign banks of the european member states. You can find a more in-depth explanation here.



As everybody (even without speaking german) can clearly see, this is a ticking timebomb, starting to tick around 2007. I'd say this is pure dynamite. And the real reason for germany not being able to leave the Euro (would need to be written off).

Even german mainstream media and economists start speaking about this, now germany has around 550 billion€ in 'assets', accompained only by the netherlands, finland and luxemburg.

You can clearly see, that this must end in a meltdown, there is no other way now. Unnecessary to say, medium-term consequences will consist of political frictions and further economic imbalances between the european countries.

Ah, before I forget: We (the germans) are finished as well, when the PIIGS default. So either way it ends, I hope it ends soon...